Overview
What is Lifespring Residential Ser Inc?
Lifespring Residential Services Inc is a nonprofit organization that was established with the purpose of constructing, owning, and operating a 20-unit apartment complex named Manor House Apartments in New Albany, Indiana. This initiative aligns with Section 202 of the National Affordable Housing Act, aiming to provide affordable housing solutions for low-income families and individuals. The organization has also secured a Housing Assistance Payment (HAP) contract with HUD, which is a rent assistance program under the Section 8 program of the National Housing Act. This contract ensures financial support for eligible residents, making housing more accessible and affordable for them.
Is Lifespring Residential Ser Inc legitimate?
Lifespring Residential Ser Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Lifespring Residential Ser Inc submitted a form 990EZ, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
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What is the mission statement of Lifespring Residential Ser Inc?
Lifespring Residential Services, Inc, as per its mission, was established to construct and manage a 20-unit apartment complex, named Manor House Apartments, in accordance with Section 202 of the National Affordable Housing Act. The organization's primary aim is to provide affordable housing for low-income families or individuals, through a Housing Assistance Payment Contract (HAP) with the Department of Housing and Urban Development (HUD). This contract is part of the Section 8 Program under the National Housing Act, which offers rental assistance. The corporation's objective is to contribute to making affordable housing accessible for those in need.
What is the revenue of Lifespring Residential Ser Inc?
Lifespring Residential Ser Inc's revenue in 2024 was $206,748.
Who are the executives of Lifespring Residential Ser Inc and what are their salaries?
Here are 7 key members and their salaries:
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Where can I find the form 990 for Lifespring Residential Ser Inc?
Lifespring Residential Ser Inc's most recent form 990 was submitted in 2024 and can be accessed here.
Mission Statement of Lifespring Residential Ser Inc
Lifespring Residential Services, Inc., as per its mission, was established to build, own, and manage a 20-unit apartment complex known as Manor House Apartments in New Albany, Indiana. This endeavor falls under Section 202 of the National Affordable Housing Act, which is aimed at providing affordable housing solutions for low-income families or individuals. The corporation has also secured a Housing Assistance Payment Contract (HAP) from HUD, signifying its participation in the Section 8 program of the National Housing Act. This rental assistance program ensures that the community is accessible to low-income families or individuals, contributing to the overall objective of providing affordable housing solutions.
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Impact
October, 2024
Lifespring Residential Services Inc. plays a significant role in providing stable housing solutions for low-income families and individuals in New Albany, Indiana. By constructing and operating the 20-unit Manor House Apartments, the organization contributes to addressing the pressing need for affordable housing in the community.
Through its partnership with HUD and participation in the Housing Assistance Payment (HAP) program, Lifespring Residential Services ensures that residents benefit from rent assistance, making it feasible for them to secure safe and dignified living situations. This impact extends beyond mere housing; it fosters a sense of community, stability, and security for vulnerable populations, enabling them to build better lives and engage more fully in their neighborhoods. Overall, Lifespring Residential Services is pivotal in enhancing the quality of life for those it serves while contributing to the broader goal of affordable housing access.
This information is meant to be a general summary of Lifespring Residential Ser Inc. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2024.
- Investment Income: $9
- Program Service Revenue: $69,495
- Gross Receipts: $206,748
Assets and Liabilities:
- Total Assets: $376,203
- Total Liabilities: $327,777
- Net Assets: $48,426
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME
Revenue
$69,495
Organization Details
Principal Officer
Nick Clark
NTEE Category
Code: Z99Z - Unknown
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